Salary Accounts

A Salary Account is opened to credit the monthly salary of the employees. This Account is opened upon the request of major companies and corporations.

Each employee gets their own account to be operated and use as they deem fit. Meanwhile, when the time comes to pay the salary, the bank credits the salary to the employees’ account from the company’s account.

Account holders should note that when a Salary Account isn’t used for a certain period of time, it is converted to Savings Account.

Also, most salary accounts in the UAE don’t offer profit rates on deposits or savings.

Why Should You Get a Salary Account?

Salary accounts have very low or no requirements for minimum balance. Salary accounts also make the payment of utility bills easy and convenient.

Some salary account can have Joint account holders. However, the applicants for the Joint Account will need identification proofs.

Salary account holders receive additional benefits like easy loan approval, credit cards, etc.

Features & Benefits of Salary Accounts in the UAE

Some of the features and benefits of the Salary Accounts include the following:

• Debit Card: A debit card is available with the salary account in the UAE. Moreover, the debit card can be used internationally.
• Cheque Book: A Cheque Book is offered free with the Salary Transfer account.
• Minimum Balance Requirement: With the salary transfer account, there is no requirement for the minimum monthly balance.
• Helpline: The customer support team is available 24x7.
• Banking: Free banking through Online Banking and Mobile Banking.
• SMS Alerts: Customers get SMS alerts for any activity in the account.
• E-statements: E-statements are free with the Salary account.
• Bill Payments: The salary account can also be used to pay the utility bills, etc.
• Loan Offers: As a holder of the Salary Account, the customers can apply for a loan easily with the Bank.

Best Banks for Salary Account in the UAE

Some of the best banks for the Salary Account includes:

Eligibility Criteria to Open a Salary Account

To open a Salary Account in the UAE, these are some of the basic requirements:

• The Applicant must be of UAE national
• The Applicant must be a resident of the UAE
• The Applicant must be 21 years of age or above
• The applicant must be a salaried employee

How to Open a Salary Account in the UAE

To open a Salary Account in the UAE, the customers should visit the nearest branch of the bank.

Frequently Asked Questions on Salary Account in UAE

Q1: What is the minimum salary requirement to open a salary transfer account in the UAE?

Ans: The minimum salary requirements differ for every bank. However, most banks require a minimum salary of AED 5000 to open a salary account in the UAE.

Q2: Which documents can be submitted as proof to open a Salary transfer account with the banks in the UAE?

Ans: To open a Salary Transfer Account with the banks in the UAE, you can submit any of the following documents as proof of salary:

• Salary Transfer Letter
• Salary Certificate
• Pay Slip
• Print out of MOL or Labour Certificate
• Offer Letter

Q3: How can I close a Salary Account in the UAE?

Ans: To close the Salary Account in the UAE, the customer will have to visit the nearest branch of the bank.

Q4: What are the documents required to open a Union National Bank Salary Account?

Ans: The Union National Bank requires the following documents to open a Salary Account in the UAE:

• Completed and signed application form
• The Applicant’s Passport
• Visa of the Applicant
• Emirates Identification Card of the Applicant
• Salary Transfer letter

Q5: What are the documents required to open a salary account in the UAE?

Ans: The documents required to open a Salary Account in the UAE are as follows:

• The Applicant’s Passport
• Emirates Identification Card
• Resident Visa of the Applicant
• Salary Transfer Letter

Q6: Is it necessary to be an existing customer with the Bank to open a Salary Account in the UAE?

Ans: No. It is not necessary to be an existing customer of the bank to open a Salary Account in the UAE.

Q7: Can an expat open a Salary Account in the UAE?

Ans: Yes, an expat can open a Salary Account in the UAE. However, he or she will have to be a resident of the UAE.

Q8: Do I have to maintain the monthly balance in the account with the Salary Account in the UAE?

Ans: That would depend on the bank you have the Salary Account with. Some banks require a monthly balance to be maintained while some banks don’t.

Q9: Can I open the Salary Account if I have a salary of AED 3000 per month?

Ans: Yes, some banks in the UAE will open a salary account for the customers with a salary of AED 3000 per month.

Q10: What are the documents required to open a Salary Account for the expats in the UAE?

Ans: The expats will need to present the following documents to open a Salary Account in the UAE:

• Original passport of the Applicant
• Emirates Identification card of the Applicant
• Resident Visa of the applicant
• Salary proof